Exploring the Link Between Strategic Planning on the Performance of Selected Manufacturing Firms in South-South Nigeria
Abstract
This study was conducted to assess the influence of strategic planning on the performance of selected manufacturing firms in South-South Nigeria. This study adopted cross-sectional survey research design. The population for this study was three hundred and nineteen (319) staff of selected quoted manufacturing firms in South-South Nigeria. Sample size for this study was determined using Krejcie and Morgan (1970) table and it was given as 177. Data for this research was obtained from primary source. The instrument used in collecting the research data was an adapted questionnaire with minor modification formulated around the research question. The descriptive statistics was used to analyze the demographic part of the questionnaire. Simple Linear regression was used in analyzing the data. Findings revealed that strategic goal orientation and strategic resource management had a positive significant relationship with corporate performance of selected manufacturing firms in south-south, Nigeria. Based on the findings of this research, it is concluded that Strategic goals orientation, and strategic resource management are significant predictors of the corporate performance of manufacturing firms. As recommendations, management of manufacturing firms in South-South should prioritize the practice of strategic goals orientation by ensuring that their long-range growth goals are clearly defined, communicated to staff and periodically reviewed in order to coordinate collaborative efforts.